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Estee Lauder Companies Navigating Bumpy Stretch, Expects Smoother Sailing In FY 2023 Second Half

 
• By Eileen Francis

The Estee Lauder Companies recorded a sales decline of 10% in the fiscal 2022 fourth quarter, generally in line with revised guidance in May as new China lockdowns were impacting its business. Challenges in China and fragrance license terminations are expected to weigh heavily on fiscal 2023 first-quarter results as well, with improvements in Q2 and, ultimately, 7% to 9% organic growth for the year.

Momentum in the Estee Lauder Companies, Inc.’s US business enabled it to finish fiscal year 2022 slightly ahead of analyst expectations, but pandemic-related shutdowns in China and the termination of licensing agreements will factor in another quarter of negative growth to start fiscal 2023.

In the fiscal fourth quarter ended 30 June, ELC’s sales fell 10% to $3.56bn, a result still above a Zacks Consensus Estimate of $3.44bn. Earnings per share meanwhile totaled $0

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• By Eileen Francis

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• By Eileen Francis

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• By Eileen Francis

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• By Eileen Francis

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• By Eileen Francis

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• By Eileen Francis

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